Hedge fund cashes in on Greek bonds

Reuters – London-based hedge fund Adelante Asset Management has made a 70 percent gain on a sale of Greek bonds, showing the potential for big profits from betting on a recovery in the fortunes of a country effectively off-limits to investors a few months ago.

Adelante’s deal offers a rare glimpse into the opaque market for Greek bonds, which has been tough to track since the country’s debt restructuring earlier this year.